Mining consultant Ing. Wisdom Edem Gomashie has praised the Ministry of Lands and Natural Resources for its careful handling of the situation surrounding the Bogoso-Prestea Mine, calling the Ministry’s recent directives to Heath Goldfields a commendable and lawful response that avoids arbitrary action.
In a statement issued on July 6, Gomashie said the Ministry’s decision to issue a Stop Work Notice rather than terminate Heath Goldfields’ lease outright shows maturity, respect for due process, and an understanding of the legal complexities tied to the mine’s history.
He highlighted the Ministry’s compliance with Regulation 200(3) of the Minerals and Mining (Licensing) Regulations, 2012 (L.I. 2176), which allows Heath Goldfields a 120-day window to address regulatory concerns and financial shortcomings.
He described the decision as a necessary balance between regulatory oversight and investor protection, especially given the lingering legal disputes with former leaseholder Future Global Resources (FGR), which are currently before multiple judicial bodies including CHRAJ.
According to Gomashie, these unresolved legal matters cast a shadow over the new investor’s ability to raise the capital required to revive the mine and could deter serious financial institutions from coming on board.
Reflecting on the history of the mine, Gomashie pointed out that both FGR and Heath Goldfields have struggled under similar conditions, suggesting that the problem may lie not only with the companies but also with the government’s internal investor vetting procedures. He questioned whether political interference or disregard for technical advice may have played a role in awarding the lease to parties lacking sufficient financial backing.
He noted that Ghana cannot afford to repeat past mistakes where capable investors were sidelined in favour of politically connected entities with limited capacity, resulting in operational failures and hardship for mine workers and local communities. He stressed that any attempt to terminate Heath Goldfields’ lease without resolving the FGR matter or without a fair and transparent process could lead to further legal complications and damage Ghana’s international reputation as an investment-friendly jurisdiction.
Gomashie called for a full review of the Minerals Commission’s evaluation processes to ensure they uphold technical rigor, transparency, and financial scrutiny in awarding mineral assets. He also urged the government to resist any temptation to hand the mine over to another investor without completing the current legal and administrative processes, warning that such actions could prolong the mine’s dormancy and reinforce perceptions of state capture in the mining sector.
He cited global precedents such as First Quantum v. DRC, Centerra Gold v. Kyrgyzstan, and Khan Resources v. Mongolia, where states paid heavy penalties for poorly managed mine takeovers, as cautionary examples Ghana must avoid.
Gomashie concluded by calling for a coordinated national effort to revive the Bogoso-Prestea Mine, similar to the strategy that helped bring the Obuasi Mine back into full operation in 2019. He underscored that the success of this effort will depend not just on Heath Goldfields meeting its obligations, but also on the government’s willingness to provide the necessary policy and legal support to restore investor confidence and secure the livelihoods of affected workers and host communities.
